Addenda Capital Inc. Decreases Holdings in The Toronto-Dominion Bank (NYSE:TD)

Addenda Capital Inc. lowered its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,532,674 shares of the bank’s stock after selling 66,588 shares during the quarter. Toronto-Dominion Bank makes up 4.1% of Addenda Capital Inc.’s portfolio, making the stock its 2nd biggest holding. Addenda Capital Inc. owned approximately 0.09% of Toronto-Dominion Bank worth $84,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc increased its stake in shares of Toronto-Dominion Bank by 28.9% during the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares during the period. Canoe Financial LP raised its stake in Toronto-Dominion Bank by 2,035.4% in the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after purchasing an additional 40,803,711 shares during the last quarter. Bank of Nova Scotia lifted its position in Toronto-Dominion Bank by 0.3% during the fourth quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after buying an additional 105,772 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Toronto-Dominion Bank by 6.2% in the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. Finally, 1832 Asset Management L.P. grew its position in Toronto-Dominion Bank by 0.6% in the fourth quarter. 1832 Asset Management L.P. now owns 24,569,253 shares of the bank’s stock worth $1,587,665,000 after acquiring an additional 149,407 shares during the period. Institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. National Bank Financial downgraded Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Stock Up 0.2 %

NYSE:TD traded up $0.12 during mid-day trading on Wednesday, reaching $57.91. The stock had a trading volume of 1,128,071 shares, compared to its average volume of 2,816,583. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $101.19 billion, a P/E ratio of 13.13, a PEG ratio of 1.57 and a beta of 0.82. The business’s 50 day moving average is $56.20 and its 200 day moving average is $57.73. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The firm had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, sell-side analysts predict that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 67.73%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.